Retail sales slip in June

The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, down 0.5% from the previous month, but 3.8% above June 2011.

Total sales for the April through June 2012 period were up 4.7% from the same period a year ago.

Retail trade sales were down 0.5% from May 2012, but 3.5% above last year, and nonstore retailers sales were up 10.9% from June 2011.

Sales for the building material and garden equipment and supplies dealers, a group that includes home centers and hardware stores, were $27.281 billion in June on an adjusted basis, down 11% from May.

“High unemployment, persistent global economic headwinds and heightened uncertainty continue to undermine consumer confidence,” said Sandy Kennedy, president of the Retail Industry Leaders Association (RILA). 

“While leading retailers have successfully risen above these circumstances and continue to remain strong, the ongoing challenges remain great. Washington can help by enacting policies that will give clarity and certainty to businesses, freeing them up to invest and grow,” Kennedy added.